Closing down a business

What

Closing down a business means ending all the economical or logistical activities that keep a business running. The closing down needs to follow a procedure.

When

You should do all these steps during the 30 days following conclusion of your business activities.

Good to know

These proceedings are general for all types of companies. It might happen that the form of company you own has different specifications. It’s highly recommended to consult the competent authorities and expertise in advance.

Steps

STEP 1: In order to closing down a business, you must first apply for the cancellation of a trade license at the relevant Trades Licensing Office (Živnostenský úřad).

STEP 2: You must also inform your tax administrator (Finanční Úřad). Therefore, you must submit your tax return to the appropriate tax office by the end of March (until the end of June if you have a tax advisor).

STEP 3: Additional obligations to terminate your trade are with your health insurance company (zdravotní pojišťovna) and the Social Security Administration Správa sociálního zabezpečení). You must report this fact within 8 days after the end of the calendar month in which the trade ended.

Where

Praha 5-Smíchov, Czech Republic

Praha 1, Czech Republic